Australia launches first ever digital market for solar energy

Pilot program lets homeowners monetise their solar power and storage.

A group of energy tech startups in cooperation with electricity providers launched The Decentralised Energy Exchange (deX), a digital marketplace for rooftop solar energy.

According to The Guardian, Australia will be the world’s first country to implement a network of “virtual stations”. These “virtual stations” are made up of smart grids of rooftop solar panels and batteries. This could lead to a reduction in energy costs as well as more investment in the renewable energy sector.

“This holds the potential to deliver on the government’s commitment to increasing the reliability of Australia’s energy system, whilst supporting a more effective and cost-competitive rollout of renewable energy to households,” said the federal minister for the environment and energy, Josh Frydenberg.

The rooftop solar energy represents around 16% of renewable energy generation in Australia but according to Frydenberg, it is estimated to increase to between 20 and 50%.